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I have a doubt, why is it not ok to sell below the first bear bar, it is much above EMA and closes on its low.
Like wise, why is it not ok to sell below the second bear bar, again it closes on its low, and it should be counted as Low 2 (which failed on the next bar).
(From DS Vol IV)
Thanks for the explanation, I didn't think of that angle, I will check out the daily chart of the 2 days. BTW do you take into account the PA in the pre-market/globex session, does it give you a bias for the first few bars?
Appreciate your response 🙂
No, I don't use it other than to see where the H and L is. In hindsight, it could help but in real-time it is one more piece of information and I can't handle it, specially when many times there are conflicting signals. Following Al, I use the higher time frame charts and the prior days PA to evaluate what to expect. Al's blog is an unvaluable tool for learning so.
Alright. Yeah his blog is a treasure trove of insights. Am currently going through the DSs, I intend to go through his past blog posts, it just feels so overwhelming, considering there are so many posts, but one step at a time I guess.